Minnesota farmer Dan Glessing maintains a cautious approach towards President Trump's trade wars, particularly the tariffs on China, which significantly impact soybean exports. Although China was a major buyer of U.S. soybeans, Glessing is encouraged by a recent temporary truce and updated forecasts from the USDA, which predict a slight decrease in soybean exports but improved domestic consumption. Though tariffs raise concerns, Glessing acknowledges other factors, particularly weather, play a more significant role in recent commodity price struggles.
"Am I concerned about tariffs? Yeah. I mean, there's uncertainty that comes with that; however, is that the number one driving factor in these poor commodity prices the last two years? No."
"More than half of U.S. soybeans are exported internationally, with roughly half of those going to China, so itâs a critical market."
"After planting my soybean crop, Iâm excited by the news of a 90-day truce and hope to see more progress on tariffs and exports."
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